Zynga Hires EA Veteran as Finance Chief

Zynga Inc. plucked another executive with experience at Electronic Arts Inc., filling a nearly yearlong vacancy at finance chief at the mobile videogame maker.

Gerard Griffin, 49 years old, had spent the past decade at EA, where he most recently was senior vice president of finance. He is the latest in a string of senior hires under Chief Executive Frank Gibeau, who in March took the reins from founder Mark Pincus after spending more than two decades at EA himself.

In recent months, Mr. Gibeau has brought on a new marketing chief, operating chief and president of publishing, all with mobile-gaming experience at his former employer.

Zynga was once a powerhouse in desktop online gaming with hits such as "FarmVille," but it has struggled as casual gamers migrated to mobile apps. Since the company went public in December 2011, its shares have tumbled from a high of more than $13 to its close Thursday at $2.81.

Under Mr. Gibeau, Zynga has focused on releasing high-quality apps to compete with companies such as King Digital Entertainment PLC, the creator of "Candy Crush Saga" bought by Activision Blizzard Inc. Zynga also has doubled down on casino-themed games tied to well-known names such as the "Wizard of Oz" and "Willy Wonka & the Chocolate Factory."

Zynga last reported earnings in August for the second quarter. It narrowed its loss but said its user base continued to shrink and revenue declined.

Write to Sarah E. Needleman at [e-mail]

(END) Dow Jones Newswires

September 29, 2016 16:35 ET (20:35 GMT)

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